• Call Cognex Sales: 855-4-COGNEX (855-426-4639)

  • Contact Us
Company

News

FOR IMMEDIATE RELEASE

NATICK, MA January 16, 2007

Cognex Announces Death of Audit Committee Member Leads to Receipt of Deficiency Letter from NASDAQ

NATICK, MA, January 16, 2007 — Cognex Corporation (NASDAQ: CGNX) previously announced on January 4, 2007 that William A. Krivsky, a member of Cognex’s board of directors and a member of its audit committee, died on December 23, 2006. As a result of Mr. Krivsky’s death, Cognex’s audit committee currently consists of only two members, Mr. Jerald G. Fishman and Mr. Reuben Wasserman. Nasdaq’s Marketplace Rule 4350(d)(2)(A) requires each listed issuer to have an audit committee that consists of at least three independent members, and, as a result, Nasdaq Listing Qualifications Department sent a Staff Deficiency Letter to Cognex informing it that Cognex was no longer in compliance with Nasdaq’s audit committee requirement. Under Marketplace Rule 4350, Cognex was given until June 21, 2007 to add a third independent member to its audit committee at which time it will regain compliance. Cognex initiated a search to fill that position soon after Mr. Krivsky’s death, and expects to make an appointment on or prior to the deadline date.

Cognex Corporation designs, develops, manufactures, and markets machine vision sensors and systems, or devices that can "see." Cognex vision sensors are used in factories around the world to automate the manufacture of a wide range of items and to assure their quality. Cognex is the world's leader in the machine vision industry, having shipped more than 350,000 machine vision systems, representing over $2 billion in cumulative revenue, since the company's founding in 1981. In addition to its corporate headquarters in Natick, Massachusetts, Cognex also has regional offices and distributors located throughout North America, Japan, Europe, Asia, and Latin America.

CONTACT:
Susan Conway
Director of Investor Relations
Cognex Corporation
(508) 650-3353
susan.conway@cognex.com

About Cognex

Cognex Corporation designs, develops, manufactures, and markets a range of products that incorporate sophisticated machine vision technology that gives them the ability to “see.” Cognex products include barcode readers, machine vision sensors, and machine vision systems that are used in factories, warehouses, and distribution centers around the world to guide, gauge, inspect, identify, and assure the quality of items during the manufacturing and distribution process.

Cognex is the world's leader in the machine vision industry, having shipped more than 1 million vision-based products, representing over $4 billion in cumulative revenue, since the company's founding in 1981. Headquartered in Natick, Massachusetts, USA, Cognex has regional offices and distributors located throughout the Americas, Europe, and Asia. For details visit Cognex online at http://www.cognex.com.

Cognex, PatMax and In-Sight and EasyBuilder are registered trademarks and PatMax RedLine and In-Sight Explorer are trademarks of Cognex Corporation. All other trademarks are the property of their respective owners.

GET ACCESS TO SUPPORT & TRAINING FOR PRODUCTS & MORE

Join MyCognex

HAVE ANY QUESTIONS?

Cognex representatives are available worldwide to support your vision and industrial barcode reading needs.

Contact Us